Quote:
Originally Posted by keysync
So did we or did we not go from 10 billion to 16 billion in under 4 years?
|
On 12/21/08 a few weeks before Bush left the white house the national debt was at 10.7 trillion.
on 12/31/11 the national debt was 15.1 trillion
Estimates show the debt at about 15.9 trillion today.
In sheer numbers it is the largest increase ever, but it is not nearly the largest increase percentage wise.
To me the more telling number is the national debt and what percent of the GDP it makes up.
Right now it makes up 99% of the GDP. That is second worse all time behind Roosevelt's 121% during the depression.
The good news is that the trending numbers show the rate of growth for the national debt to be slowing and, in theory, if the economy continues to improve then the GDP will improve and the percentage of the GDP the debt makes up will fall back to a more normal number.